Aircraft Orders & Deliveries
Buraq Air Signs MoU for 10 Airbus A320neo Aircraft at Dubai Airshow
Buraq Air to modernize fleet with 10 Airbus A320neo aircraft, enhancing efficiency and partnership with Medsky Airways in Libya.
Buraq Air Signals Fleet Renewal with Airbus Commitment at Dubai Airshow 2025
In a significant development for the North African aviation sector, Buraq Air has formally announced its intention to modernize its fleet through a new agreement with Airbus. On November 19, 2025, during the Dubai Airshow, the Libyan carrier signed a Memorandum of Understanding (MoU) for 10 A320neo Family aircraft. This move marks a potential turning point for the airline, which is Libya’s first private carrier, as it seeks to transition its operations toward a more modern and efficient fleet structure.
The agreement was finalized by Fouzi Almiqalh, President of the General Assembly of Buraq Air, and Benoit de Saint-Exupéry, Executive Vice President of Sales for Commercial Aircraft at Airbus. While the deal currently stands as a Memorandum of Understanding, a non-binding agreement that typically precedes a firm order, it signals a strong strategic intent from the airline to invest heavily in new technology. The commitment aligns with broader trends in the region where carriers are looking to upgrade aging fleets to improve fuel efficiency and passenger experience.
This announcement represents a notable shift in Buraq Air’s operational strategy. Historically, the airline has relied on Boeing aircraft, specifically the 737-400 and 737-800 models. However, in the year leading up to this announcement, the carrier began testing the Airbus platform by leasing used A320 aircraft. This MoU suggests that the trial period was successful and that the airline is now prepared to commit to Airbus for its long-term fleet requirements.
Strategic Implications and Operational Synergies
A primary driver behind this commitment appears to be the deepening partnership between Buraq Air and Medsky Airways. The press release regarding the announcement explicitly notes that the new fleet is intended to provide a “seamless platform for Medsky Airways.” Medsky, a newer entrant in the Libyan market established around 2022, maintains a close operational alliance with Buraq. By standardizing their fleets around the A320neo Family, both airlines could theoretically streamline their logistics, sharing pilot pools, maintenance resources, and technical support, which would result in significant cost reductions.
The choice of the A320neo Family offers Buraq Air considerable flexibility regarding route expansion. The aircraft are slated to support both domestic operations and international connections. Currently, the airline serves key domestic hubs such as Tripoli (Mitiga), Benghazi, Tobruk, and Labraq. Internationally, the network includes destinations like Tunis, Istanbul, Alexandria, and Jeddah. The improved range and efficiency of the A320neo variants could allow the airline to explore further destinations in Europe, Africa, and the Middle East, pending regulatory approvals and airspace conditions.
This move also places Buraq Air in direct competition with other modernizing forces within the Libyan aviation sector. For instance, Berniq Airways, another private Libyan carrier, placed an order for six Airbus A320neo and A321neo aircraft in May 2024. The parallel moves by these private entities indicate a competitive race to dominate the recovering market by offering superior hardware and reliability compared to legacy state-owned carriers, which have faced operational difficulties due to years of regional instability.
“This agreement represents a significant step forward for Buraq Air… The A320neo’s efficiency and flexibility will not only be central to strengthening our core network but will also provide a seamless platform for Medsky Airways, our key strategic partner.”
— Fouzi Almiqalh, President of the General Assembly of Buraq Air.
Technical Specifications and Market Context
The “A320neo Family” designation in the MoU allows Buraq Air the option to select between the standard A320neo and the larger A321neo. Both models feature the “Airspace” cabin, which provides wider seats, larger overhead storage, and modern lighting systems. These features represent a substantial upgrade in passenger comfort compared to the older generation Boeing 737s previously operated by the airline. While the specific engine choice, between CFM International’s LEAP-1A and Pratt & Whitney’s GTF, has not been disclosed, the selection will be critical for operations in Libya’s demanding high-temperature and dusty environment.
From a manufacturer’s perspective, this agreement reinforces Airbus’s growing footprint in North Africa. The company has been actively engaging with Libyan stakeholders to assist in the rebuilding of the country’s aviation infrastructure. Securing a commitment from a legacy private carrier like Buraq Air validates the A320neo’s position as a preferred single-aisle aircraft for airlines operating in recovering markets where efficiency and reliability are paramount.
It is important to note that as this is an MoU, specific delivery dates and financial terms remain undisclosed. In the current industrial climate, Airbus faces a significant backlog, with standard delivery timelines often extending two to three years beyond a firm order. Consequently, while the commitment is made in 2025, the physical arrival of these new aircraft would likely occur later in the decade, marking a long-term investment in the airline’s future capabilities.
Conclusion
The commitment by Buraq Air to acquire 10 Airbus A320neo Family aircraft serves as a strong indicator of recovery and ambition within the Libyan private aviation sector. By pivoting away from its historical reliance on Boeing and aligning its fleet strategy with its partner Medsky Airways, Buraq is positioning itself to operate more efficiently and competitively. The deal underscores a broader trend of fleet modernization in the region, as carriers seek to leverage new technology to rebuild networks and reconnect Libya with the global market.
As the airline moves to finalize this Memorandum of Understanding into a firm order, the focus will shift to the technical execution of the fleet transition. The successful integration of these aircraft will depend on the selection of appropriate engine technology and the continued stability of the regional market. Ultimately, this agreement at the Dubai Airshow 2025 highlights the resilience of the aviation industry in North Africa and the critical role of modern aircraft in facilitating economic reconnection.
FAQ
Question: What exactly did Buraq Air order from Airbus?
Answer: Buraq Air signed a Memorandum of Understanding (MoU) for 10 Airbus A320neo Family aircraft. This allows them to choose between different models within that family, such as the A320neo or A321neo.
Question: Is this a binding contract?
Answer: No, currently it is a Memorandum of Understanding. This is a non-binding agreement that signals a serious intent to purchase but precedes a final, firm contract.
Question: Why is Buraq Air switching to Airbus?
Answer: The airline is modernizing its fleet and moving away from older Boeing models. The switch also aligns their operations with their partner, Medsky Airways, allowing for shared resources and reduced operational costs.
Sources
Photo Credit: Airbus
Aircraft Orders & Deliveries
Boeing and Icelease Agree on Up to Three 767-300BCF Aircraft
Icelease signs for up to three Boeing 767-300BCF aircraft, with conversions at ST Engineering Singapore starting Q1 2027.
The Boeing Company and aircraft lessor Icelease have finalized an agreement for up to three Boeing 767-300 Boeing Converted Freighter (BCF) aircraft, marking the leasing firm’s expansion into the medium widebody cargo market.
Announced in a press release on November 2, 2026, the transaction includes one firm order and options for two additional conversions. The aircraft will join the managed cargo portfolio of IAT Leasing, a Dublin-based sister company to Icelease.
Conversion timeline and operational details
The formal signing ceremony for the agreement took place on October 22, 2026, during the Cargo Facts Symposium. The physical conversion work will be executed at ST Engineering’s airframe maintenance, repair, and overhaul (MRO) facilities located in Singapore.
Induction of the first Boeing 767-300 aircraft for conversion is scheduled for the first quarter of 2027. Delivery of the completed Boeing 767-300BCF to Icelease and IAT Leasing is expected to follow in the second quarter of 2027. The Boeing Converted Freighter programs are managed by The Boeing Company’s Global Services division.
Lindsey Douglas, Vice President of Cabin, Modifications, Maintenance and Digital Services at The Boeing Company, stated that the agreement underlines the continued collaboration between the two companies to meet global cargo demand.
Sigthor Einarsson, Managing Partner at Icelease, noted the strategic importance of the deal for the lessor’s broader fleet strategy.
“This agreement with Boeing to convert up to three Boeing 767 aircraft marks an important milestone for both Icelease and its Dublin-based sister company IAT Leasing,” Einarsson said.
Icelease and IAT Leasing’s growing cargo portfolio
The Boeing 767-300BCF order builds upon an established relationship between the manufacturer and the lessor. Icelease, an aircraft leasing company with a 21-year history, specializes in aircraft acquisitions, leasing, operations, finance, and investor relations. The firm was originally formed as a spinoff from Icelandair in 2005.
On November 14, 2021, Icelease placed an order for 11 Boeing 737-800 Boeing Converted Freighter (737-800BCF) aircraft during the Dubai Airshow. That order established Icelease as the launch customer for a new conversion line at Boeing’s London Gatwick MRO facility.
The newly ordered widebody freighters will be managed by IAT Leasing. Incorporated in late 2023, IAT Leasing is owned by four equity partners. The Dublin-based entity has rapidly built a portfolio of approximately 40 narrowbody and widebody passenger and Cargo aircraft, which are leased to operators globally. The company’s current managed cargo portfolio already includes seven Boeing 737-800BCF aircraft.
“The history between Icelease and Boeing dates over 20 years and includes a multitude of new aircraft deliveries as well as cargo conversions,” Einarsson said. “The Boeing 767-300BCF will join the growing managed cargo aircraft portfolio of IAT Leasing, which already includes seven Boeing 737-800BCF and other freighters leased to various customers.”
Widebody freighter market outlook
The Boeing 767-300BCF is positioned to serve regional and long-haul cargo networks as a highly efficient medium widebody converted freighter. The aircraft offers a payload capacity of 57 tonnes and a maximum range of 3,300 nautical miles.
The Icelease order aligns with broader industry forecasts regarding long-term air cargo growth. On October 28, 2026, The Boeing Company released projections indicating that the global freighter fleet will exceed 4,000 airplanes by 2045. The manufacturer anticipates that air cargo traffic will double over the same period, providing a sustained demand environment for passenger-to-freighter conversion programs across both narrowbody and widebody platforms.
AirPro News analysis
We view Icelease’s transition from narrowbody to medium widebody conversions as a natural progression for lessors seeking to capture higher-yield cargo segments. While the Boeing 737-800BCF serves domestic and regional express networks effectively, the Boeing 767-300BCF provides the volume and range necessary for intercontinental e-commerce flows. By securing conversion slots at ST Engineering for 2027, Icelease and IAT Leasing are positioning their portfolio to absorb capacity demands as older widebody freighters face retirement toward the end of the decade. The decision to allocate these assets to the recently formed IAT Leasing also highlights the robust investor appetite for dedicated freighter leasing vehicles.
Photo Credit: Boeing
Aircraft Orders & Deliveries
AerCap Leases Two Boeing 777-300ERSF to Turkish Airlines
AerCap finalizes lease of two Boeing 777-300ERSF freighters to Turkish Airlines, with deliveries scheduled for 2027.
AerCap Holdings N.V. has finalized lease agreements with Turkish Airlines for two Boeing 777-300ERSF converted freighters, with deliveries scheduled between March and September 2027.
Announced on October 29, 2026, the transaction expands the Turkish flag carrier’s dedicated cargo capacity while utilizing Etihad Engineering’s maintenance, repair, and overhaul (MRO) facility in Abu Dhabi for the passenger-to-freighter (P2F) modifications. In a press release detailing the agreement, the Dublin-based aviation lessor emphasized the strategic alignment between the aircraft’s capabilities and the airline’s expanding freight network.
Expanding Turkish Airlines’ cargo operations
The agreement builds on an existing relationship between AerCap and Turkish Airlines, which operates a large international network requiring substantial dedicated cargo lift. The addition of the two widebody freighters is intended to support the carrier’s volume requirements on high-demand international routes.
Peter Anderson, Chief Commercial Officer at AerCap, stated that the aircraft will provide the airline with additional cargo capacity combined with the performance capabilities specific to the 777-300ERSF platform. Financial terms of the lease agreements, including the exact lease duration and the specific aircraft serial numbers, were not disclosed in the announcement.
The Big Twin conversion program
The Boeing 777-300ERSF, marketed as “The Big Twin,” is a P2F conversion program developed through a joint venture between AerCap and Israel Aerospace Industries (IAI). It represents the first program designed to convert the Boeing 777-300ER into a dedicated freighter configuration.
According to AerCap’s cargo division, the 777-300ERSF offers 25 percent more cargo volume than the factory-built Boeing 777-200LRF. This increased capacity positions the converted twin-engine aircraft as a cost-effective replacement for aging four-engine Boeing 747 freighters currently operating in the global fleet.
AerCap delivered the first 777-300ERSF to launch customer Kalitta Air in September 2025. Since that initial delivery, the lessor has handed over aircraft to Fly Meta and secured lease agreements with other major operators, including Ethiopian Airlines and China Southern Group.
Regional conversion strategy in Abu Dhabi
The physical conversion of the two aircraft destined for Turkish Airlines will be executed at the Etihad Engineering MRO hub in Abu Dhabi, United Arab Emirates. This facility serves as a dedicated regional conversion center for the 777-300ERSF program.
Anderson highlighted the strategic importance of the location, noting that the Abu Dhabi facility provides a regional platform capability that enables aircraft to be converted in the Middle East prior to delivery. This localized approach is designed to efficiently serve customers across the Europe, Middle East, and Africa (EMEA) market.
“The dedicated 777-300ERSF conversion facility at Etihad Engineering’s MRO hub in Abu Dhabi provides an important regional platform capability, enabling the aircraft to be converted in the Middle East ahead of delivery to Turkish Airlines,” Anderson said.
AerCap’s broader market position
The Turkish Airlines agreement follows a period of strong financial performance for AerCap. On October 28, 2026, the company reported its third-quarter financial results, citing record adjusted earnings per share and raising its full-year 2026 guidance amid high lease rates and sustained demand for aviation assets.
As of September 30, 2026, AerCap’s total portfolio included 1,537 owned and managed aircraft, alongside approximately 1,300 engines and over 300 helicopters. The company’s dedicated cargo division manages a fleet of approximately 110 owned, managed, and on-order freighters, having completed more than 160 passenger-to-freighter conversions to date.
AirPro News analysis
We view the placement of 777-300ERSF aircraft with a major network carrier like Turkish Airlines as a strong validation of the Big Twin program’s economic proposition. As operators look to phase out older Boeing 747 freighters, the 25 percent volume advantage over the 777-200LRF makes the converted 300ER an attractive middle ground between factory-built twin-engine freighters and legacy four-engine platforms. Utilizing the Etihad Engineering facility in Abu Dhabi for a European customer also demonstrates the logistical efficiency of AerCap’s decentralized conversion strategy, reducing ferry times and regional friction for EMEA operators.
Photo Credit: AerCap
Aircraft Orders & Deliveries
CDB Aviation Leases Additional Boeing 737-800 to Neos
CDB Aviation will deliver a Boeing 737-800 to Italian leisure carrier Neos in November 2026, expanding a partnership begun in 2021.
Irish aircraft lessor CDB Aviation will expand its existing relationship with Italian leisure carrier Neos S.p.A. by leasing the airline one additional Boeing 737-800 narrowbody aircraft. The aircraft is scheduled for delivery in November 2026 and will support the carrier’s intra-European and intercontinental route networks.
The agreement, announced in an October 28, 2026, press release, builds upon a leasing partnership established between the two companies in 2021. The transaction highlights continued demand for current-generation narrowbody assets to sustain short- and medium-haul leisure operations.
Expanding the Neos narrowbody fleet
Neos, a wholly owned subsidiary of Alpitour S.p.A. based at Milan Malpensa Airport (MXP), operates an all-Boeing fleet. The airline currently utilizes 18 aircraft, comprising the Boeing 737-800, Boeing 737 MAX 8, and widebody Boeing 787-9 Dreamliner.
The Boeing 737-800 serves as a core asset for the airline’s short- to medium-haul leisure routes. Neos deploys these narrowbody aircraft on intra-European and select intercontinental flights. This narrowbody capacity complements its widebody Boeing 787-9 Dreamliner fleet, which is dedicated to long-haul operations across the carrier’s 85 global destinations in Europe, Africa, Asia, the Middle East, and the Americas.
Marco Brusa, Chief Operating Officer of Neos, stated that the planned addition reflects confidence in the lessor as a trusted partner.
“We are pleased to further strengthen our partnership with CDB Aviation with the planned addition of this Boeing 737-800 to our fleet,” Brusa said. “This agreement builds on our established relationship and reflects our confidence in CDB Aviation as a trusted partner. We look forward to welcoming the aircraft and continuing our successful collaboration.”
A growing lessor-operator partnership
The commercial relationship between CDB Aviation and Neos began in 2021 with an initial agreement covering two Boeing 737-800s. CDB Aviation officially announced the delivery of those two aircraft on February 7, 2023. Those initial airframes were configured with 186 single-class seats to support the carrier’s network.
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd., operates globally from its Dublin headquarters. As of early 2025, the lessor reported a fleet of 521 owned and committed assets, with aircraft placed at 85 airlines across 40 countries.
Gavan Daly, Head of Commercial EMEA at CDB Aviation, noted the company’s satisfaction with the expanded agreement.
“We are delighted to deepen our partnership with Neos through the agreement to lease this additional 737-800 from CDB Aviation’s portfolio,” Daly said.
Photo Credit: CDB Aviation
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